PULSE POINTS:
❓What Happened: President Donald J. Trump stated that tariffs on other nations will remain until trade deficits with China, the European Union, and others are eliminated.
👥 Who’s Involved: President Trump, his economic advisers.
📍 Where & When: Remarks were made on Air Force One on Sunday; Trump was headed to his club in Jupiter, Florida.
💬 Key Quote: “Hundreds of billions of dollars a year we lose with China,” Trump said. “And unless we solve that problem, I’m not going to make a deal.”
⚠️ Impact: Global businesses, investors, and markets have been affected; American manufacturing will likely build strength over time with less competition from low-wage economies.
IN FULL:
On Sunday, President Donald J. Trump announced he would maintain tariffs on other nations until the United States’ trade imbalances with the likes of China and the European Union (EU) are addressed. Speaking to journalists aboard Air Force One, Trump emphasized the financial losses stemming from trade with China, stating, “Hundreds of billions of dollars a year we lose with China. And unless we solve that problem, I’m not going to make a deal.”
The America First leader’s remarks followed efforts by his senior advisers to bolster his broad-reaching tariff policy. As Trump traveled from his Mar-a-Lago property for a golfing day at his Jupiter, Florida club, key economic advisers dismissed the short-term market shock, asserting that the President’s approach to tariffs would yield benefits for American industry and workers.
Trump’s aides noted Sunday that more than 50 countries have already expressed interest in finding ways to avert U.S. tariffs. Commerce Secretary Howard Lutnick confirmed that the tariffs would indeed proceed, saying, “The tariffs are coming. Of course they are.”
Some countries have already retaliated against Trump’s tariffs, including China, which announced a 34 percent tariff on all U.S. imports last week. President Trump reacted to the retaliatory tariffs, saying, “China played it wrong, they panicked—the one thing they cannot afford to do!” He later announced China will be subjected to an increased 50 percent tariff if it does not back down.